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Hurricane Michael, Fires Boost Catastrophic Losses For Travelers, But Earnings Beat Street Estimates
Tuesday, January 22, 2019 - 1:46pm | 449Investors were trying to react to mixed news from The Travelers Companies Inc (NYSE: TRV) on Tuesday as the insurer reported earnings that beat Wall Street estimates — even with higher claims losses from a major hurricane and wildfires. The company also said Tuesday it plans to reduce...
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Allstate Sees $202M Pre-Tax Catastrophe Loss For October
Friday, November 16, 2018 - 3:31pm | 306Allstate Corp (NYSE: ALL) expects to incur $202 million pre-tax ($160 million after tax) catastrophe loss for the month of October. These losses can be attributed to eight events at an estimated cost of $174 million, pretax. The rest of the loss pertains to unfavorable reserve re-estimates of...
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October Unemployment Rate Unchanged; Economist Says Fed Will Likely Read Data As 'Modestly Inflationary'
Friday, November 2, 2018 - 2:47pm | 463The Bureau of Labor Statistics releases a report each month outlining the employment landscape. After a weather-induced slowdown last month due to Hurricane Michael, numbers are rising again. What Happened The October U.S. employment report demonstrated a strong rebound in hiring, with a...
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Manufacturing Activity Pushes On Despite Hurricane Disruptions
Tuesday, October 16, 2018 - 1:56pm | 840Industrial output continued to push ahead in September, signaling that one of the key drivers of freight demand remained solid at the end of the 3rd quarter. Production was restrained slightly by the impact from Hurricane Florence, but not enough to prevent growth in the sector from reaching a near...
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This Week In The Oil Market: Stocks Drag Down Oil, Hurricane Michael Triggers Shutdowns
Friday, October 12, 2018 - 2:05pm | 620The red-hot oil market cooled this week, as a stock market sell-off weighed on both WTI and Brent crude prices after they hit multi-year highs last week. Here’s a look at the latest key numbers from the oil market and some of the headlines that were moving oil prices this week. Weekly Reports...
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Hurricane Michael Aftermath: Localized Damage, Regional Supply Chains Intact
Friday, October 12, 2018 - 10:49am | 1148Photo: Mexico Beach, Florida after Hurricane Michael — SevereStudios/John Humphress JP Hampstead and John Kingston contributed to this story. Areas of flooding and widespread debris from Hurricane Michael have blocked or closed roads along the Florida Panhandle, but it hasn't stopped...
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Dow Falls 1,300 Points In 48 Hours As Market Rout Continues
Wednesday, October 10, 2018 - 4:29pm | 486U.S. stocks experienced their worst two-day stretch in years this week, with the Dow dropping 1,200 points on Wednesday and Thursday. Fears over the international trade war, rising rate hikes, the impact of Hurricane Michael, the upcoming U.S. midterm elections and a potentially disappointing Q3...
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Hurricane Michael Becomes Category 4, Even More Life-Threatening
Wednesday, October 10, 2018 - 11:12am | 279Monstrous Hurricane Michael strengthened to a super-destructive Category 4 storm overnight, still taking aim at the northern coast of Florida today. Here's the latest as of 5 a.m. EDT Wednesday: • Location: 140 miles SW of Panama City, Florida • Maximum sustained winds: 140 mph (CAT...
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Hurricane Michael Getting Stronger, Damage Could Be Catastrophic
Tuesday, October 9, 2018 - 12:04pm | 671Hurricane Michael is not letting up. It went from a Category 1 on Monday to a Category 2 by Tuesday morning. As it picks up speed through the Gulf of Mexico it's forecast to strengthen to a Category 3 with the help of warmer-than-normal waters. At 8 o'clock Tuesday morning (EDT) the eye of...